| Islamabad: The steel rates have recently witnessed a significant reduction compared to cement, providing a respite for the construction industry, as claimed by a news source on December 15.
Read: Steel prices witness 3rd hike in 1-month due to rise in cost of raw materials
Under the details, the price per ton for steel has experienced a substantial decrease, plummeting to PKR 245,000 from its previous level of less than PKR 305,000. This decline in steel prices is attributed to the recent increase in the value of the national currency. Market analysts suggest that the strengthened rupee has played a pivotal role in driving down the prices of the series. According to traders, the current per ton price of the local steel stands at PKR 245,000, whereas the branded series is priced between PKR 263,000 and PKR 265,000, as indicated by market records.
Read: Steel rebar prices experience hike due to uncertain supply scenario
Conversely, a moderate increase in the weekly prices of cement bags has been observed across the country. The statistics department reports that the average price per bag of cement in the northern regions has risen to PKR 1,276, reflecting a 0.35% increase from the previous week’s average of PKR 1,271. |
|
